BTC Stopped at $82K as Strong US Jobs Report Shakes Markets, Strategy Resumes Buying: Weekly Recap

Strategy returned to the bitcoin-buying scene after a 2-month hiatus. However, the company sold low and bought high. It was another eventful week in the cryptocurrency markets as August closed, with BTC ending in the green for the first time during a bear market, further signaling a major shift in sentiment. However, Friday’s jobs report flipped the script again. Before we dive into all of that, let’s rewind the clock by a week and see what the landscape was last Friday. Despite briefly surging past $81,000 on a couple of occasions, BTC was quickly halted and driven south to just under $80,000. Most altcoins, though, produced major weekly gains. The rejection at the time came after the hawkish stance taken by Fed Chair Kevin Warsh, and the leg down drove BTC to just under $77,000 on Saturday morning. However, the asset rebounded swiftly and tapped $79,000 on Sunday. Another leg down to $77,000 took place on Monday morning as the US and Iran initiated new attacks against each other. The primary cryptocurrency remained volatile in the following few days, but was contained in a relatively tight range between $76,400 and $79,000. It last tested the upper boundary on Wednesday morning, ...